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Devon, GE Ink Shale Technology Collaboration Deal

|Includes: Devon Energy Corporation (DVN), GE

Devon Energy and GE Oil & Gas have signed a technology collaboration agreement to enhance the performance and economics of unconventional oil and gas projects.

Under the agreement, GE will collaborate with Devon on advancing innovations in three specific technology areas including:

· Artificial lift systems used for increasing the flow of liquids from production wells;

· Advanced drilling technologies to improve performance, reduce costs and reduce environmental impact;

· Water treatment and processing to reduce water use and better utilize water resources for unconventional oil and natural gas development.

Lorenzo Simonelli, President and CEO of GE, commented: "We aim to quickly deploy technologies that can improve the economics and operational performance of unconventional oil and gas projects throughout US and around the world as more countries seek to develop their oil and natural gas resources."

In May-2014, Devon Energy reported a net profit of $324 million in Q1-2014.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.